### Brain Teasers

# Jack's Savings

Jack donates 5% of his household income to various charities. He spends 5% of his income on gas. He spends 10% of his income on food. Another 20% of his income goes to pay his utilities. He spends another 20% on his house payment. He spends another 15% on his credit cards bills. He spends 15% on his income on his truck payment. He also spends 8% on his Health club member ship. If Jack makes $44,000 a year, how much will he be putting back in his savings account each month, if he is only wanting to deposit 35% of what's left after all his expenses? (The percentages were figured for one calendar year.)

### Answer

$25.675% Charities

5% Gas

10% Food

20% Utilities

20% House payment

15% Credit cards

15% Truck payment

8% Health club

Total expenses = 98% (of his total yearly income)

$44,000 x 98% = $43,120 (total spent on expenses)

$44,000 - $43,120 = $880 (total left after expenses)

$880 x 35% = $308.00 (total deposited in his Saving account during 1 year)

$308.00 divided by 12 = $25.67 (amount deposited in his account every month)

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